Global major beauty and personal care market 2020

In 2020, the United States was home to the largest beauty and personal care market in the world, valued at over 93 billion U.S. dollars. China came in second place with a market value of 71 billion U.S. dollars.

Leading beauty companies worldwide

L’Oréal was the leading beauty company in the world, with 34 billion U.S. dollars in global revenues in 2021. Other notable beauty manufacturers worldwide include Unilever, Procter & Gamble, Estee Lauder and Beiersdorf. L’Oréal owns iconic brands such as Lancome, Garnier and L’Oréal Paris, the latter being the leading personal care brand globally, with more than 29 billion U.S. dollars in worldwide brand value.

Consumer expenditure on beauty products in the U.S.

Since the United States is the largest beauty and personal care market in the world, consumer behavior in that lucrative market becomes of strategic importance for beauty companies and retailers. In the last decades in the United States, the average annual household expenditure on cosmetics, perfume and bath products increased significantly, from around 134 U.S. dollars per consumer unit in 2010 to nearly 200 U.S. dollars by 2020. As for expenditure on hair care products, the average expenditure per consumer unit in the U.S. reached about 65 U.S. dollars annually.